3 SCHOOL OF BUSINESS SCIENCES ASSESSMENT COVER SHEET GENERAL: [Course Coder — TWFO2O06A ‘Resesament NamaINo. (applicable Information Systems Data Analytics 1A Examination ‘Course Cocréinatar Name Ms. Neatu Ramsaroop ‘Course Coordinator Email Adcross ‘eet ramaroop@wits ac za ‘Aiemate Contact E-mail AGGress(@5) (i applicable): Kebashnes moodley@wits.ac.za ‘Resesament Launch Date (@almm): 25 November 2022 2. Read each question caeiuly. ‘Assessment Launch Time (nhimamy | T4200 ‘Resessmant Closing Date (Gdinin) | 25 November 2022 - ‘Assessment Gosing Tine (ahimmy [47:00 ‘Submission Window (hour Hours ‘Suggested Assessment Time (hours): | 3 Hours a INSTRUCTIONS TO CANDIDATES: 1. Ensure that you are witing the correct test,Section A Application-Based Question(s) Question 1 (18 marks) Forei ‘Accounting | Jorge Alberto Garcia was recently investigated under a forensic accounting case, On November 22, 2021, Garcia was proven gulty of tax offenses and fraud. He was charged with Wire fraud—he ilegally acquired property and money under a home repair scheme—he made {alse representations and promises. In addition, Garcia failed to submit his income tax retums. Source: ost asresmo.comiorensi-ascourtiny 1.1 Explain the concept of forensic analysis in the accounting feld (10 marks) 1.2 Provide examples of how forensic analysis is applied inthe accounting field (8 marks) Question 2 (15 marks) Businesses in every type of industry can hamess the power of data analytics. 1.1. Explain how the accounting field uses data analytic in business activities. (8 marks) 2.2 Elaborate on the types of data analytics. (12 marks) (1/mark each for stating the types and 2 marks each for explanation) Question 3 (15 marks) Extract, transform and load (ETL) processes unearth the fuel needed to power the analytics and visuaisations that unlock business insights. INF020068—traminstion Paper 2022 rage 208Business today depends on data. The abilty to offcionty acquire, access, and analyse {information is essential for effective decision-making and better decisions are key to building better businesses. 3.1 Elaborate on the purpose of using ETL tools. (S marks) 3.2 Explain the process of ETL in accounting. (marks) 3.3 Explain the accounting business benefits of using ETL tools. (marks) 3.4 Identify two benetts of ransfermation in accounting, (2 marks) End of Secton ASection B Sconario-Based Question(s) 52 Marks ‘Study the scenario and complete the question(s) that follow: Question 4 (18 marks) Back to the future? More like forward to the past. ltaly’s biggest grocery cooperative is using futuristic technology to help shoppers return to the sociable days of open-air markets, when there were shopkeepers at every stall, ready to answer any question a customer might have about thelr wares. Coop ttala’s “supermarket ofthe future,” designed by Carlo Ratt, has won rave reviews, ‘thanks toa digital design that created a more human shopping experience using a range of off-the-shelf technology. The concept, which debuted at Expo Milan last year and wil be showcased at Microsoft's Envision conference this week, replaces the typical grocery store's rows of towering shelves with an airy layout, including easy-to-reach, tilted displays and informative screens suspended at eye level. Motion sensors detect which product a shopper is pointing or looking at, triggering visual displays of information such as ingredients, potential allergens, the origin or processing ofthe food, its carbon footprint, and even wine pairing recommendations. That's exaclly the sort of detail that consumers now see as a fundamental pillar of theit shopping experience ~ especially millennials who grew up with the Internet at theirfingertips. Coop alia hopes the concept will help itgrow in an increasingly competitive marketplace where brick-and-mortar stores have struggled to engage with shoppers. “Customers now want access to everything there isto know about the products they are looking a,” says Gabriele Tubertini, Coop Ialia's chief information officer. “Take an apple, for example. They want to know what type of tree it grew on, the COZ it produced, the chemical treatments it received, and what its journey was to the supermarket shelf”The large, easy-to-read screens providing that information mean shoppers don't have to fumble with cumbersome devices, and older customers don't have to get out thelr reading lasses. “Its lke a retum to the old marketplace, where producers and consumers of food could easily interact with each other, exchanging stories and ideas,” Tubertni says. | I's @ signiicant shit for the retaller as well, Ine system provides Instantly updated Information on shelf inventory, allowing Coop Italia to Keep goods in @ store warehouse, | rather than on shelves, uni items need to be replenished, This design frees up valuable store space to make the most of famed architect Carlo Rall's redesigned aisles and food | displays. It also shows in real time which items are popular and gives insight into how ‘shoppers make decisions and move about the store, Tubertini says. And itidentifies what information is relevant and useful for consumers, which is guiding Coop talia’s interactions with its vendors, Smart merchants are not only expanding their categories to cater to new and changing | customer behaviours, they are also making way for a hybrid model of shopping that ‘combines digital and in-person experiences, says Sahir Anand, an analyst with EKN Research “Retailers can win by combining hyper personalization, deep product information and ‘connected devices in-ine with customer buying journeys," Anand says. “Retallers need {to shape the future of supermarkets by offering customers a smarter and moce efficient system of experiential and frictionless shopping.” ‘The “supermarket of the future” concept was developed by IT professional services firms ‘and Microsoft partners Accenture and Avanade and relies on readily available technology. Ituses sensors developed for Kinect, Microsoft's motion-sensing camera that started out as an Xbox 360 game controller, with Intel NUCs providing computing power to the interactive shelves and aisplays; the data s stored on Microsoft Azure clous-based platforms using the Microsoft SQL server relational database management system and,Microsoft content management capabilities; and the cash registers run on an Intel-based platform with Microsoft Windows sofware. Source: tos nws me van markets tre designing for. = 20hek2Dshetiz04 sctnoloay, | 4.1 Based on the scenario, identity, and explain the emerging technology. (3 marks) 4.2 Describe fve other examples ofthis technology in dally ite (18 marks) Question § (20 marks) Text analysis BDO uses textual analysis to examine large amounts of unstructured customer data {0 assist clients in complying with the California Consumer Privacy Act and other data privacy and protection principles. The company has also partnered with Brainspace to develop textual analytics applications, including those that will assist In fraud investigations, support Itigation, due diligence, and risk assessments, Jor-sccountants The benefits of text analytics are the key that can unlock exceptional growth for a business and allows increase in market share, reduce customer attriion, stand out from the competition, and generate more sales and revenue. Text analytics allows you to do allthis by tapping into customer experience (CX) insights. You can implement necessary strategies to improve those areas in customer satisfaction where you are lagging and inwest more in those that are faring well.Dosctbe five benefits of how text analytics can help improve customer experience and thereby propel business growth. (20 marks) Question 6 (14 marks) ‘Continuous auditing While everyone enjoys the last few weeks of December of every year in a joyous and festive mood, there isa section of people who walt both eagerly and warily for the year- fend. The financial auditors. These guys are the financial watchdogs of business entities {and safeguard the public interest by providing assurance services. An assurance service Involves the expression of an opinion by the auditor on the affairs and health of the company they audit. This Is not an easy task. At every yoar-end, an auditor Is provided ‘200288 to the financial information and transactions entered by the company during the year which he then proceeds to audit and verify. Since it is not possible to verify the transactions which occur over a period of 12 months in just afew weeks, the aueltors rely fon samples, audit software and professional judgments. But there are situations where an auditor cannot wait unl the year-end fo audit financial data, discover errors, ané correct them. The best example of this is banking Imagine you {90 tothe bank to deposit funds of R5000 into your account. The bank accepts the amount ‘of R5000 but while updating the transaction in their computer system, lt's say the system has an error and records it as R000. You might not check your monthly statements and therefore the error might go completely unnoticed. At the end of the year, the auditor ‘might find the error when he commences the audit but then what about the interest cost | of 810007 Being a system error, it surely wouldnt be isolated to your transaction alone. | Thousands of diferent accounts would have been affected and the interest cost to be paid by the bank would be huge. Also, more important than interest cost, the reputation and image ofthe bank would take a hit. Customers would lose their ust in the bank and, ‘overnight the bank would collapse. It is due to these circumstances that the continuous. | or concurrent aucit techniques are adopted. ‘Source: hos Moughnickel com/ndstias/The Austr PoL CATSContinuous ausiting is a method used by auditors to perform aualt-elated activities on a ‘more continuous or continual basis. Traditionally, fraud and abuse are caught after the ‘event and sometimes long after the possibilty of financial recovery. By monitoring transactions continuously, organisations can reduce the financial lass from these risks. Identity reasons fora continuous auditing process to be adopted based on the above scene, (14 marks) End of Seaton 8 TOTAL: [100] sFo2006A Examination Papor 2022 Page Bot